Enel's Energy Infrastructure Growth and Resilience
-23
1.
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2023 Remuneration Policy
Main changes vs 2022
enel
MBO
objectives1
LTI
objectives1
LTI Share
component
Share
Ownership
Guidelines
Group Opex objective remooved
FFO/Consolidated net financial debt objective weight increased to 30% (from 20%) to further
emphasize the importance of maintaining a solid financial structure
GHG emissions reduction objective weight increased to 15% (from 10%)²
Objective modified to cover not only direct scope 1 emissions related to power generation,
but also inidirect scope 1 and 3 emissions related to the electricity sold to end customers
Increased to 150% (from 130%) for the CEO and to 100% (from 65%) for the CEO-1
managers, to ensure a further alignment with the interests of the shareholders in the
long-term³
Requirement for the CEO / Executives with strategic responsibilities to achieve (within 5
years) and maintain (during the term of office) Enel shares equivalent to 200%/100% of
fixed annual remuneration. Introduced to foster the alignment with the interests of the
shareholders, further incentivizing the commitment to achieve the strategic objectives
A benchmark analysis on ESG objectives for both MBO and LTI was performed by an independent third party, leading to an increase in the weight of the climate objective in the LTI
Weight of TSR objective consequently reduced to 45% (from 50%)
Percentage unchanged for the other beneficiaries of the 2023 LTI Plan (65%)
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